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U.S. IT Industry Analysis

UpdatedApr 30, 2026
DataAggregated Company Financials
Companies111
  • 7D-5.4%
  • 3M-17.7%
  • 1Y-1.6%
  • YTD-19.0%

Over the last 7 days, the IT industry has dropped 5.4%, driven by a pullback from International Business Machines of 9.8%. Over the last year, the industry has been flat overall. Looking forward, earnings are forecast to grow by 16% annually.

Industry Valuation and Performance

Has the U.S. IT Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 30 Apr 2026US$831.9bUS$261.1bUS$21.7b20.4x38.3x3.2x
Sat, 28 Mar 2026US$836.5bUS$259.5bUS$21.6b19.3x38.8x3.2x
Mon, 23 Feb 2026US$882.9bUS$256.7bUS$21.7b21.5x40.8x3.4x
Wed, 21 Jan 2026US$1.1tUS$252.7bUS$19.8b27.4x53.5x4.2x
Fri, 19 Dec 2025US$1.1tUS$283.1bUS$20.9b29.9x51.4x3.8x
Sun, 16 Nov 2025US$1.0tUS$281.6bUS$20.8b26.8x50.4x3.7x
Tue, 14 Oct 2025US$1.1tUS$282.3bUS$20.0b31.7x53.2x3.8x
Thu, 11 Sep 2025US$997.9bUS$250.9bUS$19.3b28.9x51.7x4x
Sat, 09 Aug 2025US$978.9bUS$249.4bUS$19.5b28.8x50.3x3.9x
Mon, 07 Jul 2025US$1.0tUS$241.7bUS$17.4b29.5x59.3x4.3x
Wed, 04 Jun 2025US$958.0bUS$240.3bUS$17.0b29.3x56.2x4x
Fri, 02 May 2025US$855.9bUS$242.7bUS$18.1b31.5x47.3x3.5x
Sun, 30 Mar 2025US$864.9bUS$242.4bUS$18.4b35.6x46.9x3.6x
Tue, 25 Feb 2025US$975.9bUS$239.7bUS$18.2b40.2x53.7x4.1x
Thu, 23 Jan 2025US$883.8bUS$234.1bUS$16.3b41.7x54.2x3.8x
Sat, 21 Dec 2024US$877.7bUS$234.7bUS$16.7b44.3x52.6x3.7x
Mon, 18 Nov 2024US$827.3bUS$232.8bUS$16.3b45.6x50.6x3.6x
Wed, 16 Oct 2024US$826.9bUS$232.8bUS$17.8b44.7x46.5x3.6x
Fri, 13 Sep 2024US$765.7bUS$233.3bUS$17.5b35.5x43.6x3.3x
Sun, 11 Aug 2024US$721.4bUS$232.7bUS$17.5b28.5x41.2x3.1x
Tue, 09 Jul 2024US$718.8bUS$236.9bUS$17.2b27x41.8x3x
Thu, 06 Jun 2024US$674.7bUS$237.2bUS$17.3b28.3x39.1x2.8x
Sat, 04 May 2024US$725.4bUS$236.9bUS$16.0b23.7x45.2x3.1x
Mon, 01 Apr 2024US$783.3bUS$227.8bUS$13.8b24.5x56.6x3.4x
Wed, 28 Feb 2024US$828.8bUS$227.4bUS$14.2b22.1x58.4x3.6x
Fri, 26 Jan 2024US$819.8bUS$230.1bUS$13.4b23.3x61.4x3.6x
Sun, 24 Dec 2023US$791.8bUS$229.5bUS$12.8b20.8x61.8x3.4x
Tue, 21 Nov 2023US$722.2bUS$228.5bUS$12.7b20.9x56.9x3.2x
Thu, 19 Oct 2023US$654.7bUS$227.2bUS$6.5b19.9x101.2x2.9x
Sat, 16 Sep 2023US$693.9bUS$226.6bUS$6.8b23x102.2x3.1x
Mon, 14 Aug 2023US$665.1bUS$226.3bUS$6.7b22.8x99.6x2.9x
Wed, 12 Jul 2023US$681.2bUS$228.6bUS$6.1b25x111.8x3x
Fri, 09 Jun 2023US$664.9bUS$228.3bUS$5.9b24.3x112.2x2.9x
Sun, 07 May 2023US$604.1bUS$232.7bUS$5.8b23.4x103.3x2.6x
Price to Earnings Ratio

103.3x


Total Market Cap: US$604.1bTotal Earnings: US$5.8bTotal Revenue: US$232.7bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. IT Industry Price to Earnings3Y Average 60.1x202420252026
Current Industry PE
  • Investors are pessimistic on the American IT industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 38.3x which is lower than its 3-year average PE of 60.1x.
  • The industry is trading close to its 3-year average PS ratio of 3.5x.
Past Earnings Growth
  • The earnings for companies in the IT industry have grown 55% per year over the last three years.
  • Revenues for these companies have grown 3.9% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the U.S. Tech industry?

US Market-0.18%
Tech0.70%
IT-5.40%
Data Processing Services-1.56%
Internet Services and Infrastructure-3.19%
IT Consulting-7.79%
Industry PE
  • Investors are most optimistic about the Data Processing Services industry which is trading above its 3-year average PE ratio of 27.5x.
    • Analysts are expecting annual earnings growth of 14.0%, which is lower than the prior year's growth of 19.9% per year.
Forecasted Growth
  • Analysts are most optimistic on the Internet Services and Infrastructure industry, expecting annual earnings growth of 23% over the next 5 years.
  • This is roughly in line with its past earnings growth rate.
  • In contrast, the IT Consulting industry is expected to see its earnings grow by 7.1% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
NET CloudflareUS$211.972.1%
+US$1.6b		75.5%PS34.4x
AKAM Akamai TechnologiesUS$99.803.8%
+US$532.9m		23.0%PE32.5x
FSLY FastlyUS$26.395.7%
+US$223.6m		356.6%PS6.6x
WIX Wix.comUS$75.715.2%
+US$218.1m		-54.9%PE87.2x
DOCN DigitalOcean HoldingsUS$96.871.4%
+US$140.3m		213.5%PE38.8x

Latest News

NET
US$211.97
Cloudflare
7D
2.1%
1Y
75.5%
IBM
US$227.10
International Business Machines
7D
-9.8%
1Y
-6.1%
DOCN
US$96.87
DigitalOcean Holdings
7D
1.4%
1Y
213.5%
CRWV
US$114.19
CoreWeave
7D
-6.8%
1Y
176.5%
RPGL
US$1.43
Republic Power Group
7D
63.0%
1Y
n/a
APLD
US$32.69
Applied Digital
7D
-10.1%
1Y
527.4%
FSLY
US$26.39
Fastly
7D
5.7%
1Y
356.6%

Fastly Is Finally Earning Its Premium

Apr 27
SHOP
US$121.26
Shopify
7D
-2.4%
1Y
25.0%

Shopify Preview: Expensive, But Not Overhyped Ahead Of Q1

Apr 27
ACN
US$180.26
Accenture
7D
-5.2%
1Y
-39.7%

ACN: Enterprise AI Partnerships And Agent Adoption Will Drive Next Modernization Wave

Accenture's updated analyst price target edges slightly lower to about $250, as analysts balance recent target cuts tied to softer bookings, cautious macro commentary, and AI adoption uncertainty with some more constructive views following what several described as another solid quarter. Analyst Commentary Recent research updates show a split tape on Accenture, with most firms trimming price targets but framing the latest quarter as solid and the long term AI story as intact, if slower to play through than some previously expected.
WIX
US$75.71
Wix.com
7D
5.2%
1Y
-54.9%
SNOW
US$141.22
Snowflake
7D
-9.2%
1Y
-11.5%
EPAM
US$112.91
EPAM Systems
7D
-12.6%
1Y
-28.0%

EPAM Systems: AI Is A Threat, Yes, But Also An Opportunity

Apr 23
TWLO
US$140.91
Twilio
7D
-6.3%
1Y
45.7%

Twilio: A Transition Story Caught Between Growth And Maturity

Apr 22
OKTA
US$76.16
Okta
7D
0.2%
1Y
-31.9%

OKTA: AI Agent Identity Leadership And Q4 Execution Will Drive Repricing

The analyst price target for Okta has been adjusted slightly lower to reflect a new fair value of about $100.28 per share, as analysts balance modestly higher discount rate assumptions with supportive research that highlights solid Q4 execution, improving go-to-market progress, and growing interest in Okta's role in securing AI agents. Analyst Commentary Recent research on Okta offers a mix of optimism and caution, with many firms adjusting price targets while reaffirming their broader views on the company.
SHAZ
US$45.68
SharonAI Holdings
7D
7.1%
1Y
n/a
AKAM
US$99.80
Akamai Technologies
7D
3.8%
1Y
23.0%

AKAM: AI Compute And Security Investments Are Expected To Drive Upside

Analysts have lifted the base case price target for Akamai Technologies to $110.98 from $102.72, reflecting updated views on higher future P/E assumptions along with more conservative revenue growth and profit margin inputs. This is supported by recent research that highlights growing compute and security demand, increased AI related capex, and a mix of both positive target revisions and a downgrade in rating.